Reynolds’ $148m loss

Graeme Hart’s global packaging business,
Reynolds Group
, has reported a net loss of €103.3 million ($148.2 million) for the June half, compared with a profit of €35.2 million previously, despite a 10.3 per cent increase in revenue to €2.1 billion. Finance costs rose 67 per cent to €264 million. Reynolds, owned by Hart’s private company Rank Group, is raising $US5 billion of new debt to buy US packaging company Pactiv for $US6 billion.Sue Mitchell

Catherine Brenner
is joining
Boral
as a non-executive director. Ms Brenner, who is also on the board of AMP, Coca-Cola Amatil and Centennial Coal, will replace Roland Williams, who is retiring in November after an 11-year stint. Ms Brenner, aged 39, will be the second woman on the group’s eight-strong board, which includes Eileen Doyle.Jenny Wiggins

IMX Resources
has called for the removal of four directors at uranium explorer
Uranex
. IMX, which owns a 30 per cent stake in Uranex, wants to replace Andrew Daley, John Cottle, Richard Udovenya and Neil Cusworth with IMX directors Johann Jacobs and Stephen Hunt. IMX said that Uranex had produced “generally disappointing results". Uranex said its directors were considering their response, but noted that the resolutions would hand the IMX board control without an offer being made to other shareholders.Paul Garvey

Utilities player
Transfield Services Infrastructure Fund
director
Kate Spargo
will retire and the company is seeking a new non-executive director. At gas infrastructure outfit
APA Group
, director
George Ratilal
resigned after his appointment to the board of Malaysia’s Petronas.

Jackie Range

Newcrest Mining
’s $10.45 billion takeover of
Lihir Gold
has been officially completed after a Papua New Guinea court approved the deal. Lihir reported a first-half profit of $US87.1 million ($98.7 million), a turnaround from its loss in the corresponding period a year earlier. Although Lihir did not declare an interim dividend, Newcrest said Lihir shareholders who took part in its offer would be eligible for the company’s final dividend of 20¢.AAP